tl;dr
Solana's recent growth has expanded the crypto user base without detracting from Ethereum, serving as an entry point for many new web3 users, especially through memecoins. While these memecoins attracted millions and drove speculative trading, the challenge now is to retain these users and integrate...
Solana’s growth has expanded the crypto user base and served as an onboarding gateway to web3, complementing Ethereum rather than competing with it.
Memecoin trading on Solana introduced millions to crypto, creating opportunities to convert speculative users into long-term web3 participants.
Retaining users requires simplifying crosschain navigation and integrating ecosystems to prevent losing momentum after initial trends fade.
Crosschain infrastructure and standards like ERC-7683 can unify user experience by enabling seamless multi-chain transactions and reducing friction.
The future of web3 lies in a unified, intuitive ecosystem where users engage across chains effortlessly, moving beyond zero-sum competition to collaborative growth.
Solana's recent growth has expanded the crypto user base without detracting from Ethereum, serving as an entry point for many new web3 users, especially through memecoins. While these memecoins attracted millions and drove speculative trading, the challenge now is to retain these users and integrate them into the broader web3 ecosystem beyond speculation.
Crosschain infrastructure, such as the ERC-7683 standard, can simplify interactions across multiple blockchains, creating a unified and seamless user experience. The future of web3 depends on making different blockchains like Ethereum and Solana work together cohesively, enabling mass adoption by removing complexity and friction for users.
Solana’s fast transactions, low fees, and vibrant app layer made it an ideal onboarding ramp for memecoin traders, bringing millions into the crypto world for the first time. Despite many losing money, some users have remained engaged. The key now is transforming these new participants from short-term speculators into long-term residents within the web3 ecosystem.
However, to maintain this momentum, the ecosystem must overcome friction caused by complex crosschain interactions. Users often find navigating multiple blockchains cumbersome and costly, akin to exploring a new city with limited transit options.
Industry standards like ERC-7683, developed by Across and Uniswap, enable developers to streamline multi-chain transactions into a single user request, hiding complexity and enhancing scalability. This approach offers users the best of both worlds: simplicity and power.
The future success of web3 hinges on unifying fragmented networks like Ethereum and Solana into a seamless ecosystem. This unified experience will shift focus away from competition between chains toward collaborative growth, simplifying user journeys and fostering mass adoption.
Just as internet users don’t think about underlying protocols like TCP/IP, future web3 users should navigate interconnected blockchains effortlessly. Building this cohesive ecosystem is the critical next step for crypto’s evolution.